Posted on 12/08/2012 4:52:04 PM PST by PJ-Comix
What is the possibility of American producers (manufacturing, agriculture, transportation, retail, etc.) "Going Galt" after Jan. 1 if the tax rates soar as Obama wants? The Bamster is so arrogant that he thinks he can merely order it (already proposed DOUBLE the original 800 Billion tax increase) and it will be so. But what if the people it affects the most (i.e. producers) just shut down their businesses? Gas stations closed, supermarkets closed, little or no transportation, etc. The result would be not only the American economy grinding to a halt but outright panic. Of course, the ONLY way to get the producers back to working again would be to lower the tax rates. Not something the 'RATS want to do but what choice would they have?
Isn’t the fact that many state governments are REFUSING to set up ObamaCare exchanges one way of “Going Galt?” I predict that the states that spend millions to set up those exchanges will find out that they WASTED their money. Perhaps because ObamaCare will be impossible to implement in the first place or that they will find out the exchanges can’t be set up according to arcane, ever-shifting rules. The technical term for states that try to set up those exchanges is: “SUCKERS!”
How about barter for beef? I’ll trade 1 liter bottles of Grey Goose for about 7 lbs of beef. Maybe even kick in some body wash to seal the deal.
California tax revenue from business is down 10% for November, almost a BILLION DOLLARS. Business has been leaving at about 5 a week.
what will happen is private companies will go out of business.
if they make something profitable and popular, the govt will buy the company, take it over from bankruptcy or buy at pennies on the inflated dollr, and make it union shop and govt workers and attempt to use profits so they can keep spending.
will fail b/c the product under govt production will not be as good and sales will drop significantly. overhead costs will skyrocket as well as a govt business.
Producers will raise prices and down size....They'll make the same money with 1/2 the overhead!!
When that's no longer feasible...then they'll stop producing!.. (That used to be covered in day 1 of most Economic 101 classes )
I see.
Here in Texas, we prefer the term 'eccentric'.
/johnny
I think many an enterprising small business will split into smaller units, each unit small enough to avoid Obamacare, and run by part of the family. Each unit member will limit income received to less than $200,000. Of course, each unit will maximize expenses such as vehicles, convention trips, etc. The other thing I think will arise is black market bartering which has taken off in some areas of the US already to avoid taxes.
At my undergraduate Alma Mater, we were instructed to read Karl Marx's "Das Kapital" so we didn't get a lot of supply and demand type "drivel" in my Economics 101 classes -- I am not exaggerating.
You can do it earlier, but in addition to the regular taxes owed, you'll get hit with an additional 10% penalty for, uh, premature withdrawal.
It would be terrific if it did happen. Where’s the Gulch?
Yes you have to be 59 as for me right now I’m 49 so I would have to wait another 10 years. Knowing how the Democrap work I would not be surprised they will confiscate 401Ks before I reach that age. Currently I got laid off a month ago and looking for work, I did get a severance pay but living cost like Rent, Utilities, Car Insurance etc. is eating it up. So my only last resource is my 401K which I have about $8000 and take the penalty and tax.
If I don’t find a job soon I don’t know what happen I would like to start a business but not here in California.
Thanks, that’s what I thought. My parents run a few in Texas. Good luck with everything.
Seems nobody likes premature withdrawal
>>But if they can’t find a way to agree to ANYTHING here, then holders of US treasuries and other instruments are going to have to take a SERIOUS look over if they will EVER get paid for the securities instruments.
>>They’re going to come to the realization, NO, and a panic could set in.
Which is exactly why Rats are discussing seizing all the 401k’s and IRA’s and forcibly converting them to treasuries.
The taxpayers and the Federal Reserve will always be the buyers of last resort to fund the debt.
“Here in Texas, we prefer the term ‘eccentric’.”
Heh. I’m in Colorado now, but I’m 7th generation Texian. I like those eccentric Texas folks.
To illustrate, I ordered a “slew” (that means a lot) of Tenergy rechargeable D batteries today and that's part of “my” power grid when “theirs” collapses. I've had it with “them” and trust myself for my future, not “them”.
I’m just an ordinary guy, but I’m dropping out as of Dec 28 when I walk away from a high paying, prestigious job at the top of my professional food chain. I’m not going to be unproductive, but simply doing the things I want to do.
I suspect even more than Going Galt there will be legions like me Going Underground, as in underground cash economy.
Just like the hotheads who fired on Fort Sumter counted on little or no pushback.
“Here in Texas, we prefer the term ‘eccentric’.”
I can attest to the fact Johnny IS “eccentric” and there’s no one like him (in a good way).
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